Problem On January 1, 2014, Everett Corporation had these stockholders' equity accounts.
| Common Stock ($10 par value, 81,600 shares issued and outstanding) |
$816,000 |
| Paid-in Capital in Excess of Par Value |
521,800 |
| Retained Earnings |
653,500 |
During the year, the following transactions occurred.
| Jan. 15 |
Declared a $0.50 cash dividend per share to stockholders of record on January 31, payable February 15. |
| Feb. 15 |
Paid the dividend declared in January. |
| Apr. 15 |
Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $12 per share. |
| May 15 |
Issued the shares for the stock dividend. |
| Dec. 1 |
Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2015. |
| Dec. 31 |
Determined that net income for the year was $351,300. |
Journalize the transactions. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.)